Johnny Rice, The Motley Fool
5 min read
Space Exploration Technologies Corp. (NASDAQ: SPCX) went public on June 12, ultimately selling 638.9 million shares at $135 through its initial public offering (IPO), raising a record-setting $85.7 billion in the process.
Chief Executive Officer Elon Musk, who owns more than 6 billion in combined Class A and Class B shares — about 42% of the company by value — agreed to a 366-day lock-up of his stake. That means he can’t sell any shares until June 12, 2027.
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He’s not the only one, however. Early investors and SpaceX employees are also temporarily barred from selling their shares. But they don’t have to wait a year to do so. During the next year, nearly 6 billion additional shares will become available for sale through staggered lock-up releases before Musk gets his chance to sell.
Let’s take a look at that schedule and what it means for SpaceX investors.
SpaceX lock-up expiration schedule: when shares unlock
The first release has actually already happened. On Aug 6, just shy of 912 million shares were unlocked, more than doubling the shares available for sale.
And during the next year, SpaceX employees and investors will have the chance to sell more of their stakes. Here’s the schedule:
